The pop star got engaged to Orlando Bloom on Valentine's Day, revealing the exciting news in a sweet Instagram post that highlighted her stunning, one-of-a-kind ring.
We know that Bloom picked out the flower-shaped sparkler himself because he wanted something "very exciting and different" that would fit perfectly with Perry's personality. But to provide even more insight into its uniqueness, ET spoke with jewelry expert Kathryn Money on Friday, who gave us all the details on the rarity of the center gemstone and the ring's approximate cost.
According to Money, who is the Vice President of Strategy and Merchandising for Brilliant Earth, the center gemstone appears to be a ruby or vivid pink diamond (weighing an estimated 2-2.5 carats), surrounded by a floral halo of eight round diamonds (an estimated 2-2.5 total diamond carat weight) and set in yellow gold.
Depending on the quality and specific characteristics of the center gemstone, Money estimates the cost of the ring to be approximately $25,000-$50,000, assuming it's a ruby center gemstone. If it's set with a vivid pink diamond, which is a much rarer gemstone, the ring would cost an estimated $500,000-$2,000,000 or more.
Money tells ET that while there’s a moment for every metal type, yellow gold (which accentuates a center stone's beauty) is certainly on the rise in 2019. And with celebrities like Emily Ratajkowski, Meghan Markle and more opting for yellow gold engagement rings, Money says this trend probably won't be slowing down anytime soon.
Following Perry and Bloom's exciting engagement news, a source told ET that the two are completely "over the moon" right now.
"Katy and Orlando have been looking forward to this day for a very long time and they are over the moon to embark on their lifetime commitment," the source said. "They talked about an engagement even before their breakup in 2017 but Katy wasn't ready. She just wasn't ready at first but soon after some time away, she knew Orlando was the right man for her life."
"They have been very hush, hush about it but have known for a very long time they wanted to be engaged,” the source added. "They have been preparing for this."